From the following selected balances of Antiquary plc as at 31 March 2014 draw up (i) a detailed income statement for internal use, and (ii) an income statement for publication.

$£ 000$ s Retained profits as at 31 March 2013 204 Inventory 1 April $2013 \quad 168$

Purchases 2,924 Revenue 4,912 Returns inwards 216 Returns outwards 74 Carriage inwards 28 Wages and salaries (see Note (b)) 272 General distribution expenses $\quad 56$

General administrative expenses 48 Discounts allowed 72

$\begin{array}{ll}\text { Bad debts } & 10\end{array}$

Loan-note interest 24 Motor expenses (see Note (d)) 27

$\begin{array}{ll}\text { Interest received on bank deposit } & 12\end{array}$

Income from associates and joint ventures 6

$\begin{array}{ll}\text { Motor vehicles at cost: Administrative } & 108\end{array}$

Distribution 184 Equipment at cost: Administrative 30 Distribution 20 Royalties receivable 10

$\begin{array}{ll}\text { Dividends paid } & 240\end{array}$

Notes:

(a) Inventory at 31 March $2014 £ 204,000$.

(b) Wages and salaries are to be apportioned: distribution costs $1 / 4$, administrative expenses $3 / 4$.

(c) Rent and business rates are to be apportioned: distribution costs $60 \%$, administrative expenses $40 \%$.

(d) Apportion motor expenses in the proportions 2:3 between distribution costs and administrative expenses.

(e) Depreciate motor vehicles $25 \%$ and equipment $10 \%$ on cost.

(f) Accrue auditors' remuneration of $£ 22,000$.

(g) Accrue corporation tax for the year on ordinary activity profits $£ 728,000$.

(h) A sum of $£ 40,000$ is to be transferred to general reserve.